Calls of the Day: Newmont, UnitedHealth, and Regional Banks

Stock Upgrades and Downgrades - RBC upgraded Pneumont to outperform, correlating with rising gold prices and improved business management, stock is up 51% year to date [1][2] - Morgan Stanley reiterated United Health to outperform, shares pulling back [2] - BFA raised Progressive's price target to $347 from $344 [8] Regional Banks - Caner Fitzgerald initiates Citizens Financial, Mnt Bank, and Regions Financial as overweight [5] - Citizens Financial and Regions Financial are performing best among regional banks, while Mnt and Fifth Third are losing momentum [5][6] - Regional banks' performance is dependent on local economies and loan growth [6][7] United Health - United Health's stock has been struggling since April, down 32%, but has seen some recovery since August [3] - Buffett took a position in United Health, and Appaloosa bought into it after Michael Burry stopped shorting it [3][4] - Optimum is growing and managing medical costs, but there are still challenges to address [4] Insurance Industry - Insurance companies had pricing power due to inflation but are now seeing momentum neutralized and pricing power weakening [9] - The upcoming quarterly rebalance in October will determine whether insurance positions will be moved to the sidelines [10] - Progressive is up almost 1% [10]